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Politics

CPLP Development Bank “is on the table” and being worked on by Angola

The Angolan ambassador to the Community of Portuguese Language Countries (CPLP) reiterated the Angolan presidency's intention to create an investment bank for the organisation, saying that "the homework" is being done.

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"The bank is on the table, the bank is on the agenda. The bank is, within the component of the Angola presidency program, an important item," ambassador Francisco Oliveira Encoge said in an interview to Lusa.

According to the diplomat, who represents the Angolan CPLP presidency in Lisbon, the country is doing the necessary homework and then taking it to the other member states.

"We are working (...) with the technicians. We have not yet arrived in the Member States. Angola is doing the homework, because it is part of its presidency program, and the Member States are already aware of that purpose", he stressed.

"I believe that they too are preparing and the time will come when we will all get together to talk about our future bank," he added.

The creation of a fourth pillar, or objective of the organization, that of economic cooperation, was approved at the XIII Summit of the Head of State and Government of the CPLP, which took place on 17 July in Luanda and in which President João Lourenço took over president of the organization for the next two years.

Stressing that, at the moment, there is no negotiation with financial institutions, he admitted, however, as possible a connection to the project of an entity such as the African Development Bank (ADB). "Yes, yes, I admit it is," he said, when asked about this possibility.

"I can't tell you that negotiations already exist, but the AfDB is a partner, and a partner, if not all, of at least the vast majority of the member states of the organization. The AfDB has representations, offices in most of the member states. members," he concluded.

President João Lourenço suggested at the Luanda summit the creation of an investment bank for the CPLP to develop the economic potential of the countries that make up the organization.

"We can be a relevant economic force if we work for this. We leave the challenge of starting to think about the pertinence and feasibility of creating a CPLP investment bank", said João Lourenço, in the closing speech of the XIII Conference of Heads of State and Government of CPLP.

João Lourenço underlined that during the summit, government officials had the opportunity to discuss relevant issues for their respective countries and establish a cooperation framework more in line with the current international situation.

"We can be a relevant economic force if we work for it," urged the Chief Executive.

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